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Volume 2017 - Number 21

October 13, 2017

Redwood Aims for Jumbos Outside of Banks’ Focus

Redwood Trust loosened its underwriting guidelines for jumbo mortgages in an effort to acquire loans beyond the typical standards set by big banks, according to officials at the real estate investment trust. “It’s meant to [address] the entire universe outside of the banks while still serving borrowers who we think are good candidates and will repay,” Christopher Abate, president of Redwood, said during an investor presentation in September. Redwood introduced its Choice expanded-prime ...

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Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.


The wholesale/table funder. They’re taking the financial risk.


The broker, but only for the first year. After that, the borrower is fair game.


Hard to answer. It’s a complicated issue.